A small business loan can be both short term as well as long term, it just depends on what the business needs. Rapid Finance offers business loan terms starting at 3 months and can range up to 60 months*. If the business needs quick access to working capital, but wants to pay the loan off quicker, then a small business loan can be short term. However, if a business is looking for longer repayment terms, then the business may qualify for a long term business loan, provided the funder offers longer term loans. There are lots of factors that lenders funders take into consideration when determining loan terms. The best thing to do is communicate your business needs with our team to find the best solution for you.